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China Crescent wins three-year US$36m contract, sets 2010 revenue goal of US$100m

Published: 21:01 20 Oct 2009 AEDT

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China Crescent Enterprises, Inc. (OTC:CCTR) recently announced a 2010 objective of reaching a profitable annualized revenue run rate of US$100 million.

Subsequently, the Company announced a letter of intent to provide outsourcing services to Aoyuan Electronic Co. ltd in Dalian, China, for US$36 million over three years. The finalization of the contract with Aoyuan will bring the total revenue value of China Crescent's 2009 outsourcing contracts to approximately US$66 million.

"Our outsourcing business is gaining momentum and our confidence in reaching an annual US$100 million profitable revenue run rate in 2010 is high," said Paul Danner, CEO of China Crescent Enterprises, Inc. "We are now developing a strategy to benefit from a national exchange listing with the anticipated magnitude of the operation in 2010."

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